First things first, if you missed any of the previous steps, check out my articles here to get caught up!
Now, onto step 6!
The timeline for this step is March-May!
You did it! You found the apartment! You’re ready to apply for it and (if all goes well) sign your lease! Whoa! Rental applications allow your landlord to conduct a credit and background check on you and your cosigner. Note: This is a hard credit inquiry, which means if you have a credit score, it is going to take a hit. This is also what the decision is based on to see if you are eligible to rent the apartment. They also look at some, if not all of the following:
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Employment
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Income
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Credit references
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Social security
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Drivers’ registration
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Past evictions/rental history
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Bank accounts
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Personal references
After submitting your application and getting approved, it will be time to sign your lease! How exciting! There’s only one problem, you don’t really know what that means. That’s okay! Many of us have no idea what a lease is because most of us haven’t seen one before, let alone signed one. In short, a lease is a legally binding contract between you and your landlord. They are typically for a duration of 12 months (a standard lease running from September 1st to August 31st for college students). Many companies will use the standard lease, however, some properties’ leases might come with an addendum, which is an additional set of terms and expectations added to the lease by the property owner. Make sure you read the lease in its entirety, because it outlines everything you need to know about your relationship with your landlord and apartment. Some standard components of a lease are as follows:
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Name
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Address
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Place to contact for repairs
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Amount of rent
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When rent is due each month
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All names of renters on the lease
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Addendum (if applicable, which again is the landlord’s extra rules for renting)
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Accept or make any necessary changes before signing the lease
Once you have reviewed all of the information, you’re ready to sign your lease! Once you have signed, the apartment is yours and I promise, you will sleep a lot easier that night knowing you won’t have to live in a box on the Boston Common. Before moving into the apartment, be sure to check out the ultimate apartment packing list I created when moving into my apartment for everything you might need to move in!
Step 6 is in the books, and that’s a wrap! You’ve found your perfect apartment (or at least, you know how to)! Yay, you! I’m wishing you the very best of luck, and if you need help budgeting your apartment spending, well don’t worry. I’ve got you covered here!